Boeing reports £6.15 billion of net loss in the fiscal fourth quarter

By: Wajeeh Khan
Wajeeh Khan
Wajeeh is an active follower of world affairs, technology, an avid reader, and loves to play table tennis in… read more.
on Jan 27, 2021
  • Boeing reports £6.15 billion of net loss in the fiscal fourth quarter.
  • The aeroplane maker's revenue slid 15% on a year over year basis.
  • Boeing shares were 3.5% down in premarket trading on Tuesday.

The Boeing Company (NYSE: BA) said on Wednesday that its loss in the fiscal fourth quarter came in significantly wider than expected. Its revenue in Q4, however, slid less than what analysts had anticipated.

Boeing shares were reported about 3.5% down in premarket trading on Wednesday. The stock is now trading at a per-share price of £142.16 after recovering sharply from a low of £69.26 per share in March 2020. If you want to invest in the stock market online, you will need a reliable stockbroker – here’s a comparison of the top few to make selection easier for you.

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At the time of writing, the American multinational aeroplane manufacturer has a market cap of £83.11 billion.

Boeing’s Q4 financial results versus analysts’ estimates

Boeing said that its net loss in the fourth quarter printed at £6.15 billion that translates to £10.68 per share. In the comparable quarter of last year, its net loss was capped at a much lower £740 million or £1.30 per share. In the prior quarter (Q3), the NYSE-listed company had noted £358.59 million of net loss.

Adjusted for one-time items, the American multinational corporation lost £11.12 per share. In terms of revenue, Boeing reported £11.15 billion in the recent quarter that represents a 15% year over year decline. In collaboration with Sikorsky, Boeing unveiled Defiant X for the U.S. Army’s FLRAA (Future Long Range Assault Aircraft) programme earlier this week.

According to FactSet, experts had forecast the company to post a lower £10.98 billion of revenue in Q4. Their estimate for per-share loss stood at £1.20. Boeing’s financial results come only days after it expressed plans of switching entirely to 100% sustainable fuel for all of its planes by 2030.

Other prominent figures in Boeing’s earnings report

Other prominent figures in Boeing’s earnings report on Wednesday include £3.45 billion of commercial aeroplanes revenue or 37% lower than last year. FactSet Consensus for revenue from this segment stood at a higher £3.55 billion.

The Chicago-based company said that it generated £4.94 billion of revenue from its defence, space, and security segment – a 14% annualised increase. Analysts, on the other hand, had called for a lower £4.66 billion of revenue from this unit in the fiscal fourth quarter.

Lastly, global services revenue, as per the world’s 2nd largest aeroplane manufacturer, saw a 20% year over year decline to £2.72 billion versus a marginally lower £2.71 billion expected.

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